Ranpak (NYSE:PACK) Reaches New 1-Year High – What’s Next?

Shares of Ranpak Holdings Corp (NYSE:PACK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.67 and last traded at $6.62, with a volume of 487872 shares traded. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Craig Hallum dropped their target price on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Ranpak Trading Up 6.1%

The company has a quick ratio of 1.32, a current ratio of 1.73 and a debt-to-equity ratio of 0.76. The firm has a market cap of $569.70 million, a P/E ratio of -15.14 and a beta of 3.06. The firm’s 50-day simple moving average is $4.48 and its 200 day simple moving average is $4.98.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The company had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. As a group, analysts expect that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Institutional Trading of Ranpak

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Ranpak by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock valued at $395,000 after buying an additional 2,008 shares during the last quarter. Bank of America Corp DE raised its stake in Ranpak by 7.4% in the 3rd quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock valued at $200,000 after acquiring an additional 2,452 shares during the period. Deutsche Bank AG raised its stake in Ranpak by 8.0% in the 4th quarter. Deutsche Bank AG now owns 35,834 shares of the company’s stock valued at $194,000 after acquiring an additional 2,647 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Ranpak by 27.9% during the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after purchasing an additional 3,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Ranpak by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after purchasing an additional 3,364 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.